2016 Bank Bail-ins, Financial Crisis – Whats next? The war on your money
OK and hello everyone
Im going to tell you today about something that the mass media has all but ignored but affects every person with a bank account.
On jan 1 2016 the EEC put into effect its new bank bail in regulations, this will mirror the similar regulations on bank bailing in the USA, Australia and NZ and eventually into every developed nation in the world
Whats a bank bail in?
well in 2008 the world banking system was about to collapse, virtually all banks were insolvent and governments were forced to bail them out by printing unimaginable amounts of new money to give to the banks to prop them up. the bill for all that printed money, which ran into trillions went to the taxpayer, that you and I and it came in the form of increased taxes and austerity measures on the poor.
Since then they should have find the bank problem but they never did. instead they devised new rules so that in the next crisis, and yes there will be a next crisis, you, the depositors will pay for the banks errors directly by allowing the banks to seize your deposits, thats your savings.
how can they do this?
most of you have no clue that when you put money in your bank you are giving it to the bank, yes i said giving it, because legally and practically you become a creditor of the bank. the money is not longer yours, you are now an unsecured creditor, if you don’t believe me, check it out yourself.
so when a bail in is enacted the banks can recapitalise themselves by taking the deposits of the unsecured creditors, they do this by cancelling your deposit and in doing so they no longer have a liability to you not heir balance sheet. its like a friend giving you $ 100 and then you saying I’m keeping that i don’t owe you it back, you wont be getting it back.
thats how a bank bail in works but its totally legal
Now the regulations say its only the deposits over 100k that can be seized and the rest should be insured against the banks failure.
now you might say i cont have more than 100 k in the bank so it not a problem for me. well listen up.
first, if the governments cannot afford to protect your deposits the way they did before , in fact its now illegal for those governments to bail out the banks with public money, who is going to protect those deposits? the regulations say it should be insured but who can cover these massive losses?
in the USA the FDIC protection scheme has 25 billion in it, thats peanuts, the total deposits as of q1 2015 was 10.5 trillion dollars.
so there is no backup plan, its another case of smoke and mirrors from the central bankers. in actual fact all bank deposits are at risk as are any cash deposits held in pension schemes, in fact any money anywhere that the banks hold is at risk and this includes savings and loans , building societies and any institution large or small that keeps savers money.
so this does in crude you
second, when the next crisis hits banks all over the place will close their doors, just as they do last time. there will be tales of software glitches, irregularities, extended bank holidays and long weekends, its all been done before and will be done again.
whats the effect on you?
the hole in the wall wont work, it’ll be empty
you cc wont be accepted
your bills wont get paid
your loans wont get paid
and your mortgage wont get paid and you will be in default.
even if its with the same bank that is keeping your money form you!!!!
even when banks reopen they will restrict the amount you can take if there is an left. in cypress nobody could get more than 200 euros a week, in greece it was the same.
this all happened last time and millions of people have never recovered from it
this time it will be much worse and its already beginning
heres a few examples
in 2008 the alarm bells began to ring when legmen brothers one of the oldest merchant banks in the world suddenly inexplicably went bust,
but heres the thing, the rumours were there already
june 2008 rumours about lehmans and march 2008 about bear sterns both being potentially bust, both would be denied but both would be proved correct , they were bust.
fast forward to today
well we know that banks in europe are bailing in their depositors
back in 2008 lehmans share price plummeted 75%, it went up and down and people all said they were sure it was a solid bank
but heres the airy thing look at Deutche bank, the great german bank
its share price has lost 53%, its price has bounced up sometimes as much as 10% in a single day, the german chancellor merely has said she stahnsds behind th bank
it all sounds like an echo from 2008
you have been given forewarning, do yourself a favour and act on it.
THIS IS A WAR ON YOUR MONEY